Acquisitions16 Mar 2026, 09:12 pm
Leela Palaces Hotels & Resorts Acquires Luxury Resort in Coorg for INR 560 Crores
AI Summary
Leela Palaces Hotels & Resorts Ltd has announced the acquisition of a luxury resort in Coorg, Karnataka, from Pai Vista Hotels Private Limited. The acquisition also includes certain other land parcels and identified assets and liabilities. The total consideration for the transaction is up to INR 560,00,00,000, subject to post-closing adjustments. The transaction was approved by the Board of Directors of Leela Luxe Hotels & Resorts Private Limited, a wholly owned subsidiary of the company, and was funded through an equity infusion and a debt facility from the company.
Key Highlights
- Leela Palaces Hotels & Resorts Ltd is acquiring a luxury resort in Coorg, Karnataka, for INR 560 Crores.
- The acquisition also includes certain other land parcels and identified assets and liabilities.
- The transaction was funded through an equity infusion and a debt facility from the company.
- The acquisition was approved by the Board of Directors of Leela Luxe Hotels & Resorts Private Limited.
- The transaction is implemented subject to the terms and conditions set forth in the respective Transaction Agreements.